In this paper, we attempt to measure the leverage effect generated by public indebtedness by showing that it is advisable for a Government to jointly use public funds and public debt when financing public expenditures because of the improvement in public fund profitability produced by such a...

This paper has attempted to analyse certain influence aspects the global crisis has had on the Western Balkans countries, above all on Serbia, Croatia, Bosnia and Herzegovina, Macedonia and Montenegro. Our analysis focuses on events on stock exchanges, for which we have applied comparative...

The current global crisis is systemic by being propagated in a banking, financial and economic crisis. It represents a negative external demand shock for Western Balkan Countries (WBC) with an impact on the banking and financial sector first (dice the third 2008 quarter) and then, since the...

The impact of international financial integration on economic performance continues to be one of the most debated issues among economists. Theoretical models have identified a number of channels through which financial integration can promote economic development and growth in developing...

The aim of this paper is to, through analysis of the clearing and settlement system within the securities market and operating of the Central Securities Depository and Clearing House-a joint-stock company, Belgrade (ser. Centralni registar, depo i kliring hartija od vrednosti a.d. Beograd,...

For several centuries, international relations have been structured by mercantilist practices. These aim at generating an external trade surplus to accelerate the pace of domestic accumulation. The countries that are subjected to these practices have a foreign trade deficit, which tends to...

In the process of preparation for membership of the European Union (EU) Western Balkans countries are obliged to harmonize their legal system with the EU law and with the rules providing the functioning of the EU internal market. The provisions regulating the banking sector are highly important...

The procedures necessary for the assessment of financial power and profitability of business operations of the enterprise "D", which are set as a goal analysis has been carried out. Procedures applied in the analysis increased the power of information and usefulness of available information,...

After more than eight years of implementing transition reforms, the economic environment in Serbia, while showing signs of progress, remains unsatisfactory. The economy of Serbia is facing too many difficulties, which are reinforced by the “spillovers” from the global financial crisis....

International capital flows, transfer of real and financial funds between different countries’ legal entities became very intensive after WWII. Importance of foreign investments in the world market is continuously growing since. The level of foreign investments has significantly fluctuated...